Funding you earn now, next payment 06:00 UTC+0.0077%/8h= +8.5% APRpaid last 24h +0.033%
Price spread now: Hyperliquid against Variational Omni+0.101%7-day average +0.086% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.056%+$6 on $10k
+Price spread, last 4 days (all we have)−0.188%−$19 · spread now +0.101%, 7d avg +0.086%
=Together, before fees−0.132%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.086%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni OP | 0.1243 | 0.0023 | pay 0.0023% / 8h | 2h 22m | $220K | $45K | — |
| Short | Hyperliquid OP | 0.1244 | 0.0100 | get 0.0013% / 1h | 22m 41s | $3.3M | $2.9M | 5x |
Variational Omni OP
Hyperliquid OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Variational Omni. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $16.22
- Price spread: +0.101% → +0.086%
- $1.49
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $8.7
- Costs to cover
- 0.090%
- Break-even
- 3.2 days
Slippage unknown: Variational Omni: RFQ quote, 26 min ago; Hyperliquid: live order book, 9 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Variational Omni RFQ quote, 26 min ago | 7.87 bp | doesn't fit | 31.5 bp −$315 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 9 min ago | 2.40 bp | 10.1 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
OP on 30 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective OP/USDC PERP | −0.1583% | 1h | 0.1236 | −0.535% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1243 | +0.004% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0555% | 1h | 0.1242 | −0.052% | $40K | $139K | 25x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1245 | +0.149% | $38K | $532 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1243 | −0.006% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0012% | 8h | 0.1241 | −0.132% | $59K | $142K | 10x | as long as short |
| Variational Omni OPlong | +0.0023% | 8h | 0.1243 | long leg | $220K | $45K | — | |
| Kraken Futures PF_OPUSD | +0.0075% | 1h | 0.1244 | +0.084% | $748K | $629K | 20x | as long as short |
| Bybit OPUSDT | +0.0085% | 8h | 0.1244 | +0.101% | $18.3M | $25.6M | 75x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1244 | +0.133% | $277K | $1.0M | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
dYdX OP-USD
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Kraken Futures PF_OPUSD
Bybit OPUSDT
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OPshort | +0.0100% | 1h | 0.1244 | +0.101% | $3.3M | $2.9M | 5x | |
| Aster OPUSDT | +0.0100% | 8h | 0.1244 | +0.110% | $203K | $210K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1244 | +0.109% | $19.5M | $64.0M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1245 | +0.149% | $6.1M | $28.7M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1244 | +0.141% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1245 | +0.181% | $22.7M | $7.7M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1243 | +0.029% | $2.8M | $6.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1243 | +0.029% | $5.7M | $6.6M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1244 | +0.141% | — | $6.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1243 | +0.012% | $104K | $214K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1245 | +0.211% | $377K | $766K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1245 | +0.190% | $310K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1247 | +0.350% | $43K | $705K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1242 | −0.060% | $195 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1243 | +0.029% | $172K | $239K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1244 | +0.094% | $99K | $502K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1241 | −0.111% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0160% | 1h | 0.1243 | +0.029% | $26K | $59K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1243 | +0.037% | $990K | $274K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1241 | −0.137% | $690 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP